Garden gear maker Husqvarna Q1 EBIT drops on "cautious" start (updated)

Husqvarna AB

24/04/2024 06:31

(Adds results in paragraphs 2-5)
       April 24 (Reuters) - Swedish garden equipment and tools
maker Husqvarna  HUSQb.ST  on Wednesday reported slightly lower
than expected first-quarter results after a "cautious" start to
the year ahead of the gardening season.
        The group, whose products range from robotic lawnmowers
to irrigation systems, posted earnings before interest and tax
(EBIT) of 1.93 billion Swedish crowns ($178.59 million) for the
quarter, down 18% from a year earlier.
  
        That was slightly below the 1.95 billion crowns expected
in a poll of analyst estimates collected by LSEG.
  
        Sales fell 14% to 14.7 billion Swedish crowns, missing
the 15.01 billion expected by analysts. 
  
        The EBIT decline was mainly a result of lower volumes
with lower capacity utilisation in production, 
    said
     the company in a statement.
  




         
    


($1 = 10.8070 Swedish crowns)

 (Reporting by Jesus Calero;
Editing by Josephine Mason)
 ((Jesus.calero@thomsonreuters.com))